Gasparino: No One Gives A F*#k About Taibbi's Storyhttp://www.businessinsider.com/gasparino-no-one-gives-a-fk-about-tabbis-story-2009-8/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Tue, 03 Mar 2015 16:16:47 -0500John Carneyhttp://www.businessinsider.com/c/4a839565f2e1761850ccaf9cCAMPThu, 13 Aug 2009 00:24:05 -0400http://www.businessinsider.com/c/4a839565f2e1761850ccaf9c
Goldman Sachs has been systematic in recent years in effective lobbying to bend US financial regulation to the firm's benefit. Taibbi's CFTC rules story is only one example. The example on page 161 of Wessel's "In FED We Trust" is central to understanding whether or not it is appropriate for a firm whose business is speculation to have access to support from the US taxpayer. When the question is how to understand and regulate firms too big to fail, it is shocking to think the best we can do by way of discussion is a shouting match between Charlie Gasparino and Matt Taibbi. Is it good for our democracy for a "head's we win, tails you lose" strategy to fund salaries that draw fully 75% of the graduates of our two most highly endowed universities to Wall Street? Finance salaries are actually an even higher draw in London. Is financial "innovation" really that valuable? more than scientific research? more than medical skills? what benefit - exactly- does society get from financial innovation? When GS called Gasbag and told him they provide "liquidity" he mumbled "oh yeah" as if he knew what that meant. It means they run the casino Charlie! Could someone explain the benefits of the casino? Up to what limit? Should the taxpayer be backstopping this? Again 75% of Yale graduates end up on Wall Street (law, accounting, trading, banking). http://www.businessinsider.com/c/4a81199efdd1ec0659a2bb14paddyTue, 11 Aug 2009 03:11:26 -0400http://www.businessinsider.com/c/4a81199efdd1ec0659a2bb14
Taibbi's story is riddled with basic errors, but who cares? He's just a journalist, after all. It's a pity that most of his defenders don't care much about the accuracy of his reporting, but they're right in that the important thing is that he's making people talk and think about Wall Street firms and their connections to government. China Hand says people "will never look at Goldman Sachs the same way again", but Taibbi's genius is that the people who've been reading his story likely never heard of Goldman Sachs before.
Unfortunately, we've been here before, and firms like Goldman have only gotten more powerful. Sadly, Collin F, I don't think the public is going to rise up in anger, and while people may be "majorly piqued", I don't think Goldman gives a damn, because it believes that its connections are good enough to see it through. And judging by recent events, it may be right. http://www.businessinsider.com/c/4a80f07b0246005125b60c50rabTue, 11 Aug 2009 00:15:55 -0400http://www.businessinsider.com/c/4a80f07b0246005125b60c50
Matt Taibi caused an explosion and woke up the masses. Old media can't handle it. Its culture is fossilized and it clearly wants to remain fossilized. Not talking technology here. You can embrace all the technology of the day, the financial media still fights hard to retain all the old garbage in their brain, and in their character.
The mainstream financial media (which means pretty much everybody professionally covering this sector) would rather have him go away so they can get back to covering business like business as usual and talk about how many notches some index jumped today and 10000 reasons that might have happened.
What's making it gyrate like it does and to whose benefit? Ah...who wants that level of uninteresting, uncomfortable detail? Market moves up. Market comes down. Natural cycle. All is fair. All is good. Look at their last quarter numbers. And the fortune 500 list. Look at my pretty tie, try to understand some of what I say. If you get a quarter of it, I consider you bright. Now go invest in some mutual fund and stop asking too many questions.
"Will everyone please shut up about Goldman Sachs?" Who said this golden line?
A financial media darling, working hard to bring you nothing but the truth, to protect public's interest in all things financial. Oh yes, they so much wish people didn't talk about what goes on at Goldman Sachs and the likes. Please please stop talking about Matt Taibbi and his bold article that makes sense to the common man. Please, please it would make my life so much more comfortable.
Nodboy wants to talk about Matt's arguments? Are you frigging willfully insane???? I learned of his articles ("bubble" and the "takeover") barely a week ago and I can't stop sending links to people I know.http://www.businessinsider.com/c/4a80e2f3547cb41333adc1a0scoobydooMon, 10 Aug 2009 23:18:11 -0400http://www.businessinsider.com/c/4a80e2f3547cb41333adc1a0
@old china hand and others: Taibbi has changed the world - totally agree with other posters here. Taibbi many articles have resonated with people and Gasparino sounds pretty weak and more like O'Donnell sounded slamming Peter Schiff. As usual a lot of mainstream media just aren't getting the deep dissatisfaction and political shift which existed during the Bush years and has spread like wildfire since Obama got elected since it appears like nothing's changed. Frank Rich wrote an article too suggesting something similar. Gasparino is missing it.http://www.businessinsider.com/c/4a80d517c8ee64181592c76bOld China HandMon, 10 Aug 2009 22:19:02 -0400http://www.businessinsider.com/c/4a80d517c8ee64181592c76b
I think Charlie got it wrong. Taibbi's Rolling Stone article introduced millions of new, politically active people to Goldman's position, influence and relevance. These people are finding the themes raised by the article to be highly interesting and will never look at Goldman Sachs the same way again. And Goldman is doing itself no favors ignoring the import of the sea-change in public sentiment. Its uncharacteristically ham-handed approach to its high-frequency trading scandal has back-fired in its face (with the prosecutor of the alleged Russian software thief demanding evidence that will blow its secret - and fraudulent - strategy sky high). This coupled with the indefensibility of karmically greedy bonus awards only made possible by insider trading, mark-to-fantasy accounting and the taxpayer guarantee of its paper, Goldman is lurching from one PR disaster to the next. Taibbi's article was simply the opening volley in what will prove to be a national debate, with Goldman front and center. So no, Charlie, many millions of people give a f*#k about Taibbi's story. They are majorly piqued and are waiting for the next installment. And Goldman seems hell-bent on giving it to them. It's like they can't help themselves. Lucas van Praag has a mountain to climb.http://www.businessinsider.com/c/4a8087ddaa3a692226e55217confusedMon, 10 Aug 2009 16:49:32 -0400http://www.businessinsider.com/c/4a8087ddaa3a692226e55217
@ Collin F.
Nicely said. http://www.businessinsider.com/c/4a8082924420004060c85618Collin F.Mon, 10 Aug 2009 16:26:58 -0400http://www.businessinsider.com/c/4a8082924420004060c85618
The problem with this Goldman Sachs story is that it's ongoing, FOR GENERATIONS. You have to be a super moronic ostrich to say no one gives a 'f*#k about Taibbi's' story'. Taibbi is just a normal looking guy with good journalistic integrity and he's going after very rich oligarch bastards that continuously suck money from the masses. But if the masses don't complain, then they deserve to get robbed; BUT if they have had it, then maybe they should pick up pitch forks, burn some banks down, burn some mansions down, and protest daily in the streets ....or get the law changed so we are more like the Chinese who execute billionaire scoundrels. But if we don't have another synchronized crash soon, or a Zimbabwe style currency crash, then Americans can continue doing nothing, gravitating through life on cheeseburgers, aspartame, and fluoridated drinking water.http://www.businessinsider.com/c/4a8082039af3ef087a2c1321confusedMon, 10 Aug 2009 16:24:35 -0400http://www.businessinsider.com/c/4a8082039af3ef087a2c1321
The real question is, who gives a F*ck about Gasparino?
He could keep pretending to do real reporting, and I'll keep pretending its meaningful.
Taibbi may or may not be right. I'd guess he is close. I'll also guess it doesn't matter. http://www.businessinsider.com/c/4a8081807ea81d7568ef031cMikeMon, 10 Aug 2009 16:22:24 -0400http://www.businessinsider.com/c/4a8081807ea81d7568ef031c
So few people care that Gasparino can't stop talking about it?
Just do a Google News or Google Blog search for Taibbi's article. Lots of hits. Lots of talk. Lots of people care.http://www.businessinsider.com/c/4a807ef7976c26101d8c636epauldebaMon, 10 Aug 2009 16:11:35 -0400http://www.businessinsider.com/c/4a807ef7976c26101d8c636e
"Taibbi had said that he would debate Gasparino after he completes an article for Rolling Stone about the health care reform debate."
Good Lord! This guy is now going to write some nonsense about the vast right wing conspiracy against Obama's reasonable plan to make a sweeping overall of Health Care via a huge document that took no time to create and no time was needed for Congress to review it?http://www.businessinsider.com/c/4a807e84c63dac4469a2ec12George ParrMon, 10 Aug 2009 16:09:40 -0400http://www.businessinsider.com/c/4a807e84c63dac4469a2ec12
I don't give a F*#k About Gasparinohttp://www.businessinsider.com/c/4a807c1ae0837e382ce41e41JoeMon, 10 Aug 2009 15:59:22 -0400http://www.businessinsider.com/c/4a807c1ae0837e382ce41e41
@ smedley
Is that something like not going after and prosecuting war criminals once a war is won already?http://www.businessinsider.com/c/4a80762f149b02287b7ebec7smedleyMon, 10 Aug 2009 15:34:07 -0400http://www.businessinsider.com/c/4a80762f149b02287b7ebec7
We're still talking about GS? Somebody needs to 'splain to Mr Taibbi the crisis is officially over, so just STFU and enjoy the echo debt bubble and the liquidity driven stock rally already!http://www.businessinsider.com/c/4a8074dd95e8163f40ab2b8aivanMon, 10 Aug 2009 15:28:29 -0400http://www.businessinsider.com/c/4a8074dd95e8163f40ab2b8a
When gumba, dick grasso wannabee, gangster pretenders, and journalistiv pousers say, "fuck" something?????
It's like violence as the last resort--they ahve run out of options and their anger takes over.
The cnbc crowd is angry that sites , like this one, Zero and others are taking market share from them.
Charlie "little dickie" is worried about his future.http://www.businessinsider.com/c/4a80747bd98c8f156c5b9a1cTonyMon, 10 Aug 2009 15:26:51 -0400http://www.businessinsider.com/c/4a80747bd98c8f156c5b9a1c
Jgbr: "Taibbi has changed the world" i second that.
Paulson and goldman have alot to answer for re: Buffet puts 5 billion into goldman and gets bargain basement priced preferred shares with a big dividend whereas US taxpayers put 13 billion into Goldman and get stock in a worthless company (AIG).
Paulson and Goldman must both answer for this.
http://www.businessinsider.com/c/4a80744e48d4ff5951734c7ayepMon, 10 Aug 2009 15:26:06 -0400http://www.businessinsider.com/c/4a80744e48d4ff5951734c7a
The public's tired of Gas bags. We'll see how Goldman's doing when the mark to fantasy is repealed and mark to market reinstated. Maybe they took all their writedowns, maybe not.http://www.businessinsider.com/c/4a8071fd16c3a65a7f2e10beTerryMon, 10 Aug 2009 15:16:12 -0400http://www.businessinsider.com/c/4a8071fd16c3a65a7f2e10be
So I take it that Charlie is not upset that Matt called him a drunk on his blog?
Or did Matt delete it so quick that Charlie never got a chance to read it?http://www.businessinsider.com/c/4a806ff188a5046237c4f726dmcmanusMon, 10 Aug 2009 15:07:29 -0400http://www.businessinsider.com/c/4a806ff188a5046237c4f726
"Taibbi has changed the world". and we are all dumber because of it.http://www.businessinsider.com/c/4a806c446895c925184724a6JordanMon, 10 Aug 2009 14:51:48 -0400http://www.businessinsider.com/c/4a806c446895c925184724a6
Can we get Tabbi, Gasparino and Cavuto on a comeback episode of "Win Ben Stein's Money"? That would be awesome.http://www.businessinsider.com/c/4a806a8d235984155d3448afjgbrMon, 10 Aug 2009 14:44:29 -0400http://www.businessinsider.com/c/4a806a8d235984155d3448af
"No One Gives A F*#k About Tabbi's Story"
Taibbi has changed the world.http://www.businessinsider.com/c/4a806a0faf749c314fb931afBlahMon, 10 Aug 2009 14:42:22 -0400http://www.businessinsider.com/c/4a806a0faf749c314fb931af
I don't know about a televised debate, but I'd definitely tune in to watch Taibbi and Gasbag loaded onto a rocket and fired into the sun.